Revenue Matters - 4th Quarterly Newsletter 2023

It’s no surprise that 2023 has been a challenging year for most properties. The strong leisure demand we experienced in 2022 has waned, and with it, ADR. The bright spot for Q4 is a reemergence of group and corporate activity, but we aren’t back to pre-COVID levels in those segments—yet. Instability in the Middle East, a looming recession in the US and continued inflationary pressures globally mean that headwinds will likely persist into next year. Still, there is also good news on the horizon.

The Revenue Matters team is working hard to help you navigate these tricky times. We have continued our investment in MAX^TM and added a “drill down” module to help gather further insights into factors impacting property performance. Ask your director of revenue strategy about this new feature.

Ancillary revenue is impacted by increased occupancy, whereas ADR growth directly impacts NOI and asset value based on an efficient flow-through. We can think of ADR performance as a by-product of both pricing strategy and channel/segment mix. For these reasons, we have forged a strong working relationship with HotelCompete to pull competitive pricing data directly into MAX^TM and with Ascent360 to help drive direct-to-property bookings.

To borrow from a sports analogy, winning in 2024 will be all about skillfully executing singles and doubles. This is something our entire team is focused on each day.

Below are some relevant articles that will provide further insight. Enjoy!

Hospitality Headlines

Hoteliers Strategize To Address Shift in Demand During Shoulder Months
Dana Miller, Hotel News Now
Although hotel demand has been falling short of expectations in 2023, there is hope that a rise in business and group travel will increase occupancy levels during shoulder months. Hoteliers are focused on both rate flexibility and generating a good mix of business as they move into the fall and winter. Read on to gain insight from several industry leaders on how they are preparing for the future.

The Future of Corporate Travel
Emily Friel, HSMAI
The corporate landscape is ever evolving—while some companies are finding value in virtual meetings, others are emphasizing the need for face-to-face interaction and have seen a resurgence in business travel. Finding a happy medium between efficiency, cost-effectiveness and team building will be what ultimately defines the future for corporate travel.

Business Travel Rebounding: Expected $1.8T Spend by 2027
PhocusWire
Business Travel is coming back in a big way, with spending expected to rise above pre-pandemic levels next year. According to a recent report from Global Business Travel Association and Visa, the issues that had been predicted to greatly affect the speed of corporate travel recovery did not materialize, allowing for a quicker return to normalcy.

Strategic Partnerships

Ascent360 is the Customer Data and Marketing Automation Platform preferred by resorts and hotels that seamlessly integrates with 150+ PMS, reservation and booking systems. Our sophisticated hygiene engine cleanses, de-dupes and unifies your data providing a “Golden Record” for each of your guests. Using your enriched data, you can quickly build targeted audience segments, omnichannel campaigns and automations (all within one platform) to reach the right guest, on the right channel, at the right time. Discover how to drive more bookings & increase guest retention today!

Discover How

Service Spotlight

social media

A strong presence on a variety of social media channels is essential to building your brand and website traffic. While fans and followers are an important part of this, never underestimate the power of how many you are reaching and who is truly engaging with your property. Targeting those engagements through Paid Search Advertising is the best way to strategize and optimize a successful social media campaign.

Company/Charity Spotlight

RM Annual Retreat Highlights

Revenue Matters came together in Las Vegas for our annual retreat of teambuilding, brainstorming and community support. With team members spread throughout the country we always treasure the opportunity for face-to-face time. And this year, we were lucky enough to participate in the St. Jude Walk/Run—a highlight of the weekend. We return stronger, smarter and ready to share our thoughts and practices with our valued clients.

Ask, and You Shall Receive

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Rave Reviews

We Shared, You Liked

Your Favorite Social Media Posts of Q3 2023

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REVENUE MATTERS
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